- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
the IRS is going to want to see mileage logs if you are audited. doesn't matter whether you use section 179 or 168K or neither. for vehicles required info includes total mileage, personal and commuting mileage, and business mileage. failure to keep adequate records should the IRS come calling could result in a disallowance of all vehicle expenses including its cost, The same is true for other expenses of your business - invoices, canceled checks or other proof of payment. then you get hit with taxes, penalties and interest.
‎October 21, 2021
12:00 PM